If you’re behind on mortgage payments, don’t wait until foreclosure becomes your only concern. Triangle Home Relief can help you understand your options, protect your equity, and find the best path forward - with no pressure or obligation.
If you’ve missed one or more mortgage payments, don’t wait to understand your options. Acting early may give you more choices and more time to find a solution.
Triangle Home Relief helps homeowners throughout Raleigh and the Triangle understand their situation, explore possible solutions, and determine the best path forward.
No pressure. No obligation. Just answers and options.
Falling behind on your mortgage can happen for many reasons – a job loss, reduced income, unexpected medical expenses, divorce, major home repairs, or another financial setback.
Missing a payment doesn’t necessarily mean you’ll lose your home.
But ignoring the problem can make your options more limited.
If you’re behind, start by:
The earlier you take action, the more flexibility you may have.
Behind on payments? You may still have options.
Unexpected property responsibilities can be overwhelming.
Helping simplify difficult transitions.
Sell as-is without repairs or cleanup.
Loss of income, rising expenses, or unexpected life events.
Need to move quickly for work or family reasons.
Every homeowner’s situation is different. Depending on your mortgage, lender, finances, and how far behind you are, several options may be worth exploring.
A loan modification changes certain terms of your existing mortgage in an effort to make your payments more manageable. Depending on the lender and program, this could potentially involve modifying the interest rate, extending the repayment term, or restructuring past-due amounts. A loan modification may be worth discussing with your mortgage servicer if you want to remain in your home and can realistically afford an adjusted payment going forward.
If your financial setback was temporary and you can now resume making payments, your lender may offer a repayment plan. A repayment plan generally allows you to catch up on missed payments over time by paying an additional amount along with your regular mortgage payment. This option may work best when your income has recovered and you can afford the temporarily higher monthly payment.
Forbearance may allow qualifying homeowners to temporarily pause or reduce their mortgage payments because of financial hardship. Forbearance generally does not eliminate the amount owed. You’ll need to understand how missed or reduced payments will be handled after the forbearance period ends. Ask your mortgage servicer whether forbearance is available and exactly what will happen when the temporary period expires.
If you have access to sufficient funds, you may be able to bring the mortgage current by paying the past-due amount and other amounts required by your lender. Ask your mortgage servicer for the exact amount and requirements for reinstatement. This option isn’t realistic for everyone, but it may be worth considering if your financial hardship has been resolved or you’ve recently gained access to funds.
Depending on your credit, equity, income, interest rates, and how far behind you are, refinancing may be another possibility. However, refinancing often becomes more difficult after missed payments have affected your credit or the mortgage has become seriously delinquent. If you think refinancing could be an option, it generally makes sense to investigate it as early as possible.
Sometimes the financial problem isn’t temporary.
Your income may have changed permanently, your mortgage payment may simply be too high, or the property may have become more expensive to maintain than you can realistically afford.
If keeping the home would continue creating financial hardship, selling may be worth considering before the situation progresses further.
Depending on your circumstances, you could potentially:
The best option depends on your timeline, equity, property condition, and financial goals.
Understanding your equity can be extremely important when you’re behind on payments.
A simple starting point is:
Estimated Home Value – Mortgage Balance – Other Property Obligations – Selling Costs = Potential Remaining Equity
If your house is worth significantly more than you owe, you may have equity that could potentially be protected through a sale.
For example, a homeowner whose property is worth $400,000 but owes $275,000 is in a very different position from someone who owes approximately as much as the property is worth.
Don’t automatically assume that being behind on mortgage payments means you’ve lost the value you’ve built in your home.
Understand your numbers before making a decision.
This may be the most important question you need to answer.
There is no one-size-fits-all answer.
The right solution is the one that puts you in the best position moving forward.
Mortgage servicing and foreclosure circumstances vary, but continued missed payments can result in increasing past-due balances, fees, credit consequences, collection activity, and potentially foreclosure proceedings.
This is why doing nothing is usually the worst strategy. If you’ve received notices from your mortgage servicer, read them carefully and pay attention to deadlines.
If foreclosure proceedings have already started, your situation may be more time-sensitive.
In many situations, yes.
Being behind on your mortgage does not necessarily prevent you from selling your home.
If the sale generates enough proceeds to satisfy the mortgage and other applicable obligations, selling may allow you to resolve the debt and potentially retain remaining equity.
If the house needs significant repairs or you need to move quickly, an as-is sale may also be worth considering.
A direct sale isn’t the best solution for every homeowner.
If you have plenty of time and your property is in good condition, listing with a real estate professional may potentially produce a higher sale price.
However, an as-is or direct sale may be useful when:
Triangle Home Relief may be able to purchase your property directly if that option makes sense for your circumstances.
There is no obligation to sell your home to us.
When you’re behind on mortgage payments, you don’t need another person immediately telling you to sell your house.
You need to understand your options.
Triangle Home Relief helps Raleigh and Triangle homeowners take a closer look at their situation, including:
Review your mortgage information and contact your mortgage servicer as soon as possible. Explain your situation and ask what options may be available. Don’t wait for additional payments to become overdue before taking action.
Generally, a single missed payment does not mean that your home will immediately be foreclosed upon. However, you should address the missed payment promptly and communicate with your mortgage servicer.
Your situation may be more urgent, but options may still exist. Contact your mortgage servicer to determine the status of your loan, how much is past due, and what alternatives may be available.
Potentially, yes. Past-due mortgage amounts can generally be addressed as part of a sale, provided the transaction generates sufficient proceeds or another arrangement is made.
Potentially, yes. In fact, acting earlier may provide more time to market and sell the property compared with waiting until foreclosure proceedings are underway.
You don’t necessarily have to repair a property before selling it. An as-is sale may be an option when making repairs isn’t practical.
No. Talking with Triangle Home Relief does not obligate you to sell. Our goal is to help you better understand your situation and possible paths forward.
Every homeowner’s situation is different. Even if you’re not sure where to start, we’re happy to have a cnfidential conversation, answer your question, and help you better understand the options that may be available to you.
We'll never pressure you into a decision
Your information is safe with us
Just honest answers and real solutions
Every situation is different.
Reach out for a confidential
conversation to see what
options may be available.
Call or text anytime
Your information is safe and will never be shared.
We understand that life happens. We’re here to help.
We provide real solutions, not one-size-fits-all answers.
We make fair cash offers based on your situation and timeline
We’re proud to help our neighbors in the Triangle move forward.
